You are viewing a single comment's thread from:
RE: Bancor trading has started - were you part of the ICO? or have you bought some?
At first I was excited about the ICO, but then I couldn't quite convince myself of the usefulness or utility Bancor was proposing. Their examples of enabling smaller communities to create their own tokens, or startups creating their own ICO's seemed trivial to me, already covered by the crypto space in general.
I would love to hear some convincing use cases for Bancor. I too am wondering when (and if) to buy in. But a startup immediately valued at $350 million seems overly optimistic to me. I would expect some bumps along the way which could send the price quickly down.
Totally agree. As far as ICO's go, there are way too many similar to this on Ethereum, not to mention platforms such as Waves, NXT, etc, that do the same. The space is flooded and 350M is insanity if you think about it. Why would a startup need so much money to develop something that has been available for years on an existing platform? The greed in this space is overwhelming at this point and I do not see these crazy ico's doing anything positive for the crypto ecosystem. I see all this having a negative effect as non crypto people sucked in by the hype begin to lose money in the ico thing and call for tighter regulations, investigations, etc. A lot of that has already started with more bad press about "ico scams" daily. Not saying that any are scams, just saying at some point these companies will be forced to account for the funds and their use. I am worried if regulators step in, these companies may be forced to liquidate their positions which could be really bad for all of us who would like to see some stability.